DOMESTIC MARKET
The benchmark Nifty bounced back sharply in early trade today led by buying in financial, metal, telecom, realty, technology and select infrastructure companies' shares .Nifty opened at 5800.05,and is currently trading at 5785.60 ,with an increase of 31.50 points. Top gainers are Suzlon Energy,Cairn India,Sterlite Ind, Tata Motors etc. While top losers are Tata Steel, Tata Power, Larsen, Reliance Comm etc. Nifty has resistance at 5831.73 and 5909.36 and support at 5687.33 and 5620.56.
Sensex is trading at 19274.79 with 78.45 points up from previous closing. Most of the sub-indices are in the positive trend. Sensex has resistance at 19417.4 and 19638.46 and support at 18989.44 and 18781.54.
INTERNATIONAL MARKET
Asian markets are also in the uptrend. Japan’s Nikkei gained 26.68 points and was trading at 10537.40.Topix rose 5.06 points and reached 932.00.Hong Kong’s Hang Seng was trading at 23954.70 with an increase of 194.35 points or 0.82%.
FII FLOW
The net FII flow to equity sector on Tuesday recorded a loss of Rs.1088.20 crore as against 966.60 crore the previous day. The open interest for the previous day in Futures segment was Rs. 45437.34 crore as against 46625.26 on Monday. The open interest in Options segment was Rs. 45824.38 crore as against Rs. 42087.89 crore the previous day. The aggregate open interest in derivative segment was 91261.72crore. This was 88713.15 crore Monday. It may be observed that the aggregate open interest rose 2.79 per cent.
NEWS
• Export-driven software services companies likely to report robust quarterly earnings.
• Bankers express concerns over liquidity to RBI.
• SEBI has permitted derivative trading on overseas indices in Indian bourses.
TODAYS STOCK RECOMMENDATION BY ANALYSTS
Market Analysis: Ms. Malu Suresh,
School of Asset Management
Kochi.
www.schoolofassetmanagement.com
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